Global IR and Thermal Imaging Systems Market Size, Status and Forecast 2021-2025
The IR and Thermal Imaging Systems Market report provides a unique tool for evaluating the market, highlighting opportunities, and supporting strategic and tactical decision-making. This report recognizes that in this rapidly-evolving and competitive environment, up-to-date Marketing information is essential to monitor performance and make critical decisions for growth and profitability. It provides information on trends and developments and focuses on market capacities and on the changing structure of the IR and Thermal Imaging Systems.
The IR and Thermal Imaging Systems market was valued at USD 5.19 billion in 2019 and is expected to reach USD 7.92 billion by 2025, at a CAGR of 7.78% over the forecast period 2020 – 2025.
– With global tensions ascending at a significant pace, countries to tackle global-political instabilities and to fortify their military power have been identified to invest heavily in IR and thermal imaging systems, driving the demand for these systems.
– With advancements in technologies, companies have miniaturized IR and thermal imaging sensors making them highly efficient and portable and increasing their ease of use. Handheld IR and thermal imaging systems are gaining traction for their portability, with this segment finding its applications in various industry verticals such as hospitals, saving repair times and heating costs.
– Lack of awareness about the emerging applications of the technology are expected to act as a restraint for this market.
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Top Leading Companies of Global IR and Thermal Imaging Systems Market are Flir Systems, Inc., L-3 Communications Holdings, ULIS, Lockheed Martin, Bae Systems plc, Leonardo DRS, Elbit Systems Ltd., Raytheon, Sofradir Group, Thermoteknix Systems Ltd. and others.
Industry News and Updates:
– March 2018 – FLIR Systems, Inc. collaborated with drone industry leader DJI Innovations. The companies plan to proceed with their first joint product; the DJI Zenmuse XT stabilized the camera. Additionally, DRS Technologies highly anticipated 10-micron pixel pitch infrared detector has been adequately validated to select defense industry, prime contractors.
– March 2018 – ULIS bolometers have set a new response-time record (measured using the Thermal Time Constant) without compromising their state-of-the-art pixel sensitivity.
Key Market Trends:
Industrial Applications are Expected to Have a Major Market Share.
Thermal imaging has initiated the process of making substantial inroads into other types of applications such as uncooled microbolometer-based detectors. These sensors have a long wave infrared band from 7.5 to 14 m. Microbolometers are cheaper, smaller in size, lighter in weight; all these attributes while possessing immediate power-up capabilities, decreased power consumption, longer means the time between failures and are comparatively better than traditional bolometers.
The automotive industry uses thermal imaging as part of the safety system (E.g., identification of animals or humans on the road and warn the drivers before they encounter these potential hazards). Rear-view visibility systems (backup cameras) are now becoming mandatory on all new light vehicles sold in the US. With autonomous vehicles coming into the picture, this technology can facilitate the automatic breaking by distinguishing based on object size.
North America to Hold a Significant Market Share
Latest technological breakthroughs have facilitated the advancement of new IR and thermal imaging systems that can make the overall processes more efficient and can significantly improve accuracy in various applications.
There have been a series of new product launches, mergers and acquisitions in North America to take advantage of this opportunity. The major driver behind the investments has been the overall evolution and application of new technologies to unlock a huge number of volumes that were previously considered non-commercial. With these series of investments, industrial, transportation, security, and surveillance systems applications in North America is set to boom over the forecast period.
For instance, L-3 Communications majorly based out in the United States launched its latest Warrior Systems (ALST) and has signed a contract to deliver ground laser target designators to the Republic of Korea. L-3 released its latest Scarab system (a laser designator armed with rangefinding and an IR thermal imager), which is providing exact target designation during the day, night and in all battlefield conditions. The contract value is approximately USD 30 million.
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Highlights of the IR and Thermal Imaging Systems Market Report:
– Detailed overview of IR and Thermal Imaging Systems Market
– Changing the IR and Thermal Imaging Systems market dynamics of the industry
– In-depth market segmentation by Type, Application, etc.
– Historical, current and projected IR and Thermal Imaging Systems market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of IR and Thermal Imaging Systems Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth.
The research includes historic data from 2016 to 2021 and forecasts until 2025 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.
Finally, the IR and Thermal Imaging Systems Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request, and market development rate and figure, and so on. IR and Thermal Imaging Systems industry report additionally Presents a new task SWOT examination, speculation attainability investigation, and venture return investigation.
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